Modular Construction Market - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2026

The global Modular Construction Market size was valued at US$ 115400.4 million in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% for the forecast period ending 2026 reaching a Market value of US$ 192340.4 million.

From the perspective of the Product Type market segmentation, the report covers Permanent, Re-locatable. This segment of the Modular Construction Market is expected to drive growth in the coming years owing to various positive trends, primarily the increasing applications.

The key and positive trends of the segment include:
*Rapid growth in construction activities
*High amount of efficiency delivered by modular construction
*Earthquake-prone regions pose a major threat to modular construction

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Modular constructions are considered efficient as compared to conventional structures. Modular construction makes use of high-performance products that provide a higher amount of efficiency, resilience, and versatility, thereby meeting construction requirements.

Factors such as reduced cost and time required for construction and upsurge in demand for new construction, owing to surge in population and rapid urbanization drive the market growth. However, lack of skilled labor in developing countries hampers the demand for modular construction.

Modular Construction Market Report Scope:

A study is an effective tool for addressing Research insights relevant for business strategies like:

• New product launch
• New client acquisition
• New opportunity mapping (market level and geography level)
• Competitive benchmarking
• Cost optimization strategies
• Inorganic expansion plans

The Segment study of Application includes an analysis of Material, Steel, Wood, Concrete, Others.

The Segment study of End-user, Residential, Commercial, Industrial.

The market segments are identified and analyzed keeping in mind the Modular Construction Market ecosystem as a whole

Permanent modular houses are simple to build and inexpensive as well. These houses are available in several varieties. Multi storeyed apartments and duplex apartments are some of the popular modular houses, preferred by the new generation.  Further, rise in demand for customized construction is majorly impacting the growth of the market.

Re-locatable modular homes are flexible, and thus can be disassembled and relocated on another location for  their respective use, which further leads to a reduction in the demand for raw materials for new construction,  thereby minimizing the construction expenditure to meet the increasing needs. All these factors collectively are anticipated to offer remunerative opportunities for market development during the forecast period.

From a geographic segmentation perspective, the report focuses on the regions that have a material and significant effect on the overall market value. The broad level coverage of the report includes the regions of North America, Europe, APAC, MEA, LatAm, United States.

The European construction industry is in its recovery phase since 2014, with a modest increase of 0.9% in the residential construction segment. In Eastern Europe, the construction expenditure is expected to rebound and grow at a rate of around 3% during the forecast period. An increase in residential & non-residential construction activities and a surge in consumer expenditure on residential structure improvement are expected to propel the market growth. In Eastern Europe, major growth is anticipated in countries such as Bulgaria, Romania, and  Slovakia, as they will witness increased construction spending in the infrastructure segment, thus having a  positive impact on the demand for modular homes.

A significant increase in the demand for modular infrastructure in residential improvement and repair is further expected to fuel the market growth in the region. In addition, The U.S. ranks third in the list of countries with the maximum population, witnessing a continuous population increase.

Competitive Landscape Covered in Modular Construction Market Report:

The Modular Construction Market is fairly fragmented. While the key companies continue to drive innovation and, in most cases, adopt digital transformations, the overall competitive ecosystem is dominated by Market leaders as well as emerging players with niche offerings.

The Modular Construction Market report profiles some of the key market players while reviewing significant market developments and strategies adopted by them. While looking at Organic and Inorganic strategies separately, the report studies not only outlook based (short-mid-long term), but also strategy based (strategic vs operational) market activity.

Companies profiled in the Modular Construction Market report include:

• ATCO
• Anderco PTE
• Giant Containers Inc
• Honomobo Corporation
• Lendlease Corporation
• SG Blocks Inc
• Skanska AB
• Speedhouse Group of Companies
• Supertech Industries LLC
• Temphousing

The global modular construction market is marked by intense competition from the major players operating in this market. Tactical mergers and acquisitions, joint ventures and partnerships, expansions and product developments are some of the key strategies taken up by these organizations to ensure long term sustenance in the global modular construction market. Product launch is the most adopted strategy by the players such as Hexion Inc. and Solvay SA. Top winning strategies are analyzed by performing a thorough study of the leading players in the global epoxy resin market.  Comprehensive analysis of recent developments and growth curves of various companies help to understand the growth strategies adopted by them and their potential effect on the Market. For instance, Giant Container, Inc. entered a strategic partnership with Canadian Ocean Racing (COR), Canada’s premier IMOCA Open 60 racing program. Through this partnership, the company donated 20-foot shipping container to the open 60 team base.

The Covid19 pandemic has transformed the market landscape. The market ecosystem has taken a directional shift in the way supply-side of the market is accessed. The report covers the aftermath of the Covid19 catastrophe

Customization:
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We conduct customization of the Research data on all key fronts – Regional, Segment, Competitive landscape level. For every report-purchase, we offer 50 analyst-hours of free customization

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